Posts in category Economic Times
Ashdan properties leads race to acquire Rolta India (03-04-2024)
Ashdan made a ₹850-crore cash offer to creditors, beating bids by Patanjali and MGN, following which the committee of creditors (CoC) decided not to go ahead with another round of bidding, people familiar with the matter said. In February, the Mumbai bench of the National Company Law Tribunal (NCLT) had allowed lenders to seek rebids for Rolta following a plea by Baba Ramdev's Patanjali Ayurved to make an offer for the company after the deadline for submitting fresh bids lapsed.
Vi board meets Saturday to discuss Rs 20,000 cr fundraise (03-04-2024)
Vodafone Idea (Vi) plans to raise funds via a preferential share issue on April 6, following shareholders' approval of a proposal to raise ₹20,000 crore through equity and equity-linked instruments. The company expects to complete the equity fund raise by the end of June, with promoters expected to infuse around ₹2,000 crore.
Intel slides 7% as foundry business loss spotlights wide gap with rival TSMC (03-04-2024)
Intel faces challenges with chip-making, resulting in a 7% stock drop. Analysts anticipate a $12 billion market value loss, while CEO Gelsinger foresees losses peaking in 2024 before breaking even by 2027.
Executive chairperson Rashmi Saluja sells over 20 lakh shares of Religare Enterprises (03-04-2024)
As per the disclosure on NSE on April 2, Saluja sold 6.18 lakh shares on March 26, 6.70 lakh shares on March 27, and 7.21 lakh shares on March 28. Following the transaction, Saluja’s holding in REL is reduced to 0.81% from 1.23%.
Brent futures hover near $90, pressured by rise in US crude inventories (03-04-2024)
Brent crude futures rose 84 cents, or 0.9%, to $89.76 a barrel by 11:38 a.m. ET (1538 GMT). U.S. West Texas Intermediate futures rose 76 cents, or 0.9%, to $85.91 a barrel. Both contracts were up more than a dollar during the session, before the U.S. Energy Information Administration reported a 3.2 million barrel increase in crude stocks.
SRM Contractors makes flattish debut despite robust response for IPO. What investors should do (03-04-2024)
Analysts said the strong overall subscription of 86.57 times for the IPO also added to the surprise of the flat listing. Keeping aside the listing gains, analysts see a compelling proposition for investors with a long-term perspective.
Fed’s Powell repeats there is time to deliberate over rate cuts (03-04-2024)
Inflation, based on the Fed's preferred measure, remains half a percentage point or more above the central bank's target, and recent progress has been minimal. That has left some officials discounting the need for lower interest rates until near the end of this year.
Federal Bank reports 20% growth in gross advances (03-04-2024)
Federal Bank, a private sector bank, reported a 20% year-on-year growth in gross advances, reaching Rs 2.13 lakh crore by March 31, 2024, compared to Rs 1.77 lakh crore a year earlier. The bank's retail credit book expanded by 25%, while the wholesale credit book grew by 15%, resulting in a retail loan to wholesale loan ratio of 56:44. Additionally, the bank's total deposits increased by 18% to Rs 2.53 lakh crore from Rs 2.13 lakh crore as of March 31, 2023.
Vodafone Idea board meet on April 6 to mull preferential issue of equity shares (03-04-2024)
This comes after the telecom operator on Tuesday received shareholders’ approval to raise Rs 20,000 crore through equity linked instruments. Besides raising funds via equity, the cash-strapped operator is also engaging with its lenders for tying up debt funding.